BITO - BITO: A Strong Buy Ahead Of The Halving

2024-04-07 10:26:19 ET

Summary

• ProShares Bitcoin Strategy ETF (BITO) is a fund that tracks the performance of Bitcoin through futures contracts.
• BITO has a high risk and high reward profile, with annualized volatility at around 50%.
• The fund has seen a massive rally but is currently in a consolidation phase, indicating potential for another upward move.

I’ve not been bashful about my bullishness on alt-coin OG Bitcoin, and the various ways one can express a bullish position on the coin. That can be via miners, owning the coin itself, or the subject of today’s article, ETFs. Today we’ll take a look at the ProShares Bitcoin Strategy ETF ( BITO ), a fund that seeks to track the performance of Bitcoin via investing in futures contracts, but in a way that can be bought and sold in a standard brokerage account....

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